I'm saying finally coming to PS4 because the game has been released already in Japan in February 2015, but it was only for the arcades, and it wasn't a finished version. We could think at this release as a sort of a Beta, but Japan is weird this way, especially when it's about Tekken games.
Tekken 7 will be a PlayStation 4 exclusive title, unlike the previous iteration in the series that was also released on Xbox 360. From what the developers have revealed until now, the game will finally make its debut on PS4, although a release date hasn't been proposed just yet. And, the cherry on top is that it should also work with the upcoming PlayStation VR system, which is scheduled to arrive in the first months of 2016.
Tekken 7 is now based on Unreal Engine 4
Moving to a different engine was a big leap for the studio. This means that they had to redo the fighting system, and that's not an easy task. Tekken is extremely complicated, most likely one of the most complex fighting games out there.
"Tekken 7 makes use of the acclaimed Unreal Engine 4 engine for the first time in the series, offering a true new-gen experience. We literally drooled over the Arcade version, and now it’s coming to your home! In addition to the great graphics, as demonstrated in this awesome announcement trailer, many new characters will join the fight," reads Sony's announcement.
A story mode will also be available, as usual, but don't try to make head or tails of it. I've been playing the Tekken games for many years, and I still can't figure out why some characters return from the dead and why half the things in the story are too weird to even be described.
Namco Bandai also said that more details about the character roster and game mechanics will be revealed in the coming months.